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題名:Measuring the Benefits from Futures Markets: Conceptual Issues
書刊名:International Journal of Business and Economics
作者:Lien, DonaldQuirk, James
出版日期:2002
卷期:1:1
頁次:頁53-58
主題關鍵詞:Futures marketsPrice variabilityConsumer surplus
原始連結:連回原系統網址new window
相關次數:
  • 被引用次數被引用次數:期刊(1) 博士論文(0) 專書(0) 專書論文(0)
  • 排除自我引用排除自我引用:1
  • 共同引用共同引用:0
  • 點閱點閱:11
This paper illustrates that the usual consumer surplus approach to evaluation of the benefits of a futures market fails because of certain unobserved benefits. In particular, when futures markets provide benefits in the form of a reduced variability of future spot prices, the usual consumer surplus approach will systematically understate the benefits of futures markets.
期刊論文
1.Hadar, J.、Russell, William R.(1969)。Rules for ordering uncertain prospects。American Economic Review,59(1),25-34。  new window
2.Duffie, D.、Rahi, R.(1995)。Financial Market Innovation and Security Design: An Introduction。Journal of Economic Theory,65,1-42。  new window
3.Elul, R.(1995)。Welfare Effects of Financial Innovation in Incomplete Markets Economies with Several Consumption Goods。Journal of Economic Theory,65,43-78。  new window
4.Hart, O.(1975)。On the Optimality of Equilibrium When the Market Structure is Incomplete。Journal of Economic Theory,11,418-443。  new window
5.Newbery, D. M. G.、Stiglitz, J. E.(1984)。Pareto Inferior Trade and Optimal Trade Policy。Review of Economic Studies,51,1-12。  new window
6.Quirk, J.、Saposnik, R.(1962)。Admissibility and Measurable Utility Functions。Review of Economic Studies,31,140-146。  new window
研究報告
1.Mayhew, S.(2000)。The Impact of Derivatives on Cash Markets: What Have We Learned?。Department of Banking and Finance, University of Georgia, Athens, Georgia。  new window
圖書論文
1.Geanakoplos, J. D.、Polemarchakis, H. M.(1986)。Existence, Regularity, and Constrained Suboptimality of Competitive Allocation when the Asset Structure is Incomplete。Uncertainty, Information and Communication。New York:Cambridge University Press。  new window
 
 
 
 
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